LECO Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $284.63.

Put/Call (OI)

0.15

661 P / 4k C

Put/Call (Volume)

0.74

29 P / 39 C today

30d ATM IV

27%

annualized implied move

Call wall

$290

426 contracts

Put wall

$260

98 contracts

Tail hedging

1.0×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.15 puts per call outstanding.
●Call wall at $290 (426 contracts), 2% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $260 (98 contracts), 9% below spot — the hedge floor; often acts as support.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	3k	176	0.06	1
2026-09-18	367	187	0.51	6
2026-11-20	872	219	0.25	13
2026-12-18	278	77	0.28	44
2027-03-19	19	2	0.11	4

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.